Anheuser-Busch InBev SA (BUD) stock — is it a good business?

Anheuser-Busch InBev SA (BUD) stock — is it a good business? — InspectStocks

How it makes money

Beverage sales in North America24%
Beverage sales in Middle Americas29%
Beverage sales in South America20%
Beverage sales in Europe, the Middle East and Africa16%
Beverage sales in Asia Pacific10%
Exports and unallocated holding-company activities1%

Shares of revenue are estimates for 2025, high confidence, not figures from a filing.

Competes with

HEIAHeineken
0291China Resources Beer Holdings
CARL BCarlsberg

What it sells6

Budweiser
A lager beer sold in the United States and many international markets.
Corona
A Mexican beer sold internationally; in the United States, Corona beer is marketed and sold under an exclusive license by Constellation Brands.
Michelob ULTRA
A light lager beer positioned as a lower-calorie, lower-carbohydrate choice.

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Bud Light
A light lager beer sold primarily in the United States.
Cutwater
Canned cocktails made with spirits.
NÜTRL
A hard seltzer sold in the United States and Canada.

Who buys it4

Independent wholesalers buy beer for resale to shops, bars and restaurants; in the United States, most of the company’s beer is sold through wholesalers with designated territories.
Retailers order beverages directly in some markets or through wholesalers and distributors; retailers can also place orders through the BEES business ordering service.
Bars, restaurants and other venues buy drinks through local wholesalers, distributors or direct sales arrangements.
Consumers buy drinks in shops and venues, and can order directly through the company’s delivery businesses in some markets.

What it stands on, and what could break it

What the business leans on

1In some markets, sales rely on independent wholesalers and distributors to get drinks to shops and venues.
2Brewing and packaging depend on agricultural ingredients, including barley, and on materials such as glass, aluminum and cansheet, as well as energy and water.
3Constellation Brands has the exclusive, perpetual right to market and sell Corona and certain other Grupo Modelo beer brands in the United States, the District of Columbia and Guam.

What could go wrong

1Currency movements and economic weakness in the many countries where it sells can affect demand and the value of its sales when converted into U.S. dollars.
2Changes in the availability or cost of crops, packaging materials, energy and water can raise production and delivery costs or interrupt supply.
3Changes in consumer preferences, competition, and rules on alcohol sales, advertising or health claims can reduce demand or limit how the company markets its drinks.

Full financial statements →

About Anheuser-Busch InBev SA

AB InBev makes, markets and distributes beers for local and international tastes, including Budweiser, Corona, Stella Artois and Michelob ULTRA. It also sells soft drinks, energy drinks and ready-to-drink alcoholic beverages, including canned cocktails. Retailers can order drinks and related products through its BEES business ordering service, and its consumer delivery businesses sell drinks directly in some markets. Non-beer activities generated 11% of revenue (2025, high confidence).

Head office: Leuven, Belgium
Founded: 2016 (current legal entity; predecessor incorporated in 1977)
Employees: approximately 137,000 (December 31, 2025, high confidence)
Listed on: New York Stock Exchange
Financial year ends: December 31

Built from Anheuser-Busch InBev SA’s own filings with the U.S. Securities and Exchange Commission (SEC). Figures are as reported, with per-share history restated onto today’s share basis. This describes a business — it is not investment advice and not a recommendation to buy or sell anything.

Keep exploring

The themes Anheuser-Busch InBev is part of, the highest-graded companies in its industry, and the companies in its sector whose grade rose recently.

The theme it is part of

Grade rose recently in Consumer Staples

Rose to A or B on a filing in the last 90 days, worth $2B or more: largest first.

All grade rises